Dear Mr/Mrs Ramin Farzanehfar,

 

Oil discovery in Colombia 

 

Rio de Janeiro, December 19, 2012 – Petróleo Brasileiro S.A.

– Petrobras announces that its wholly-owned subsidiary Petrobras Colombia has confirmed the presence of oil at the Guando SW 1 well, in the Upper Magdalena Valley, Tolima Department, Colombia.

The Guando SW 1 well reached a total depth of 1,576 meters.

Tests have confirmed the presence of oil of approximately 23,9º API and initial production rates of 500 barrels of oil per day.

The work carried out at Guando SW 1 corresponds to the resumption of exploration of Block Boquerón, already in production, of which Petrobras is the operator.

In this same block, 12 years ago, Petrobras developed Guando Field, one of the biggest oil discoveries in Colombia of the past 15 years. 

On October 27, Petrobras started an extended well test at wild cat well Guando SW 1.

Petrobras will proceed with tests to assess the potential of the discovery.

 

Sincerely,

Investor Relations.

 

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